MVP introduces Vermont’s first Medicare Medical Savings Account Plan

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MVP introduces Vermont’s first Medicare Medical Savings Account Plan

Tue, 10/20/2020 - 4:47am -- tim

Health insurer is one of four in the nation to offer the innovative Medicare plan

Vermont Business Magazine MVP Health Care today announced that Vermont seniors can now, for the first time, sign up for the MVP SmartFund MSA Plan during Medicare’s Annual Enrollment Period, which runs from October 15 to December 7, 2020. This innovative new plan offers seniors additional financial flexibility when choosing a health plan.

“With nearly a quarter of Vermont’s population enrolled in Medicare–the fourth greatest percentage of state Medicare patients in the nation–it is important that each individual has access to a health insurance plan that meets their unique needs,” said MVP Health Care’s President and Chief Executive Officer, Christopher Del Vecchio. “MVP Health Care is proud to be the first health insurer in Vermont to offer this pioneering insurance option to seniors.”

A Medical Savings Account (MSA) plan combines a high-deductible Medicare Advantage plan with a medical savings account. With the MVP SmartFund MSA, MVP deposits $2,500 in the member’s medical savings account annually. These funds function similarly to a health savings account, as members can use them to pay for health care costs as they work toward meeting the annual deductible. If the $2,500 is not used during the calendar year, it will roll over to the next calendar year. Once the annual deductible is met, MVP pays 100% of covered services. With a $0 premium, the MVP SmartFund MSA Plan balances choice with financial flexibility.

“In generating demand for this innovative health insurance plan, Vermonters continue to prove that they are ahead of the curve when it comes to flexibility and control around health care spending,” said MVP Health Care’s Chief Medical Officer, Dr. Carl Cameron. “Vermonters were early adopters of the High-Deductible Health Plan (HDHP), and MVP Health Care is excited to continue to be the first health insurer in the state to support their financial savvy through an MSA plan.”     

The MVP SmartFund MSA Plan is available in all Vermont counties to Medicare-eligible individuals. For additional details, visit MSAfromMVP.com.

To learn more about this plan, or to enroll during the Medicare Annual Enrollment Period, call 1-800-324-3899 to speak with an MVP Health Care Medicare Advisor.

About MVP Health Care

MVP Health Care is a nationally recognized, not-for-profit health insurer caring for members in New York and Vermont. Committed to the complete well-being of our members and the communities we serve, MVP makes health insurance more convenient, more supportive, and more personal. For more information, visit www.mvphealthcare.com, or on FacebookTwitterInstagram, and LinkedIn.

Source: Schenectady, NY – October 15, 2020 – MVP Health Care